MILWAUKEE, Feb. 14, 2014 (GLOBE NEWSWIRE) -- We are investigating the Board of Directors of LCA-Vision for possible breaches of fiduciary duty and other violations of state law in connection with the sale of LCA-Vision to PhotoMedex.
Click here to learn how to join the action: http://www.ademilaw.com/case/lca-vision or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
LCA-Vision shareholders will receive just $5.37 for each LCA-Vision share owned, which is substantially less than LCA-Vision's intrinsic and less than target prices set by some analysts. Clearly, PhotoMedex is purchasing LCA-Vision at a substantial discount. The purchase agreement unreasonably limits prospective competing bids for LCA-Vision by (i) prohibiting solicitation of any further bids, and (ii) imposing a termination penalty should LCA-Vision receive and accept a superior bid. LCA-Vision insiders, their affiliates and other majority shareholders own significant voting units of LCA-Vision, and will receive benefits as part of change of control arrangements, and therefore can unduly influence a sale of LCA-Vision not necessarily in the best interests of non-insider shareholders. In light of these facts, our investigation centers on the conduct of LCA-Vision's Board of Directors, who have unanimously approved the transaction, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for LCA-Vision given its current financial condition and prospects.
If you own shares of LCA-Vision and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, http://www.ademilaw.com/case/lca-vision .
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
Ademi & O'Reilly, LLP Guri Ademi 3620 East Layton Ave. Cudahy, WI 53110 Toll Free: (866) 264-3995 Fax: (414) 482-8001 www.ademilaw.com
